Principal and Founder
Steven Millstein founded The STRO Companies (“STRO”) in 1994, with a vision to transform under-performing commercial real estate properties into top performers and to eventually provide enhanced services to the Millstein Family Office (“MFO”). STRO’s formation coincided with a particularly delicate and unstable commercial real estate market, enabling STRO to develop the unique ability to navigate and find success despite the challenging market.
By 2000, STRO was managing and leasing 500,000 square feet of primarily industrial properties in Northern New Jersey (NNJ). Millstein focused on infill locations within the industrial asset class due to his vision of value connected to being close to the customer. His tenant profile were companies dependent on warehouse space to store and distribute food, clothing, medical supplies, building materials and other necessities to serve the 20 million people, with $1.7 trillion of purchasing power, residing within a one (1) hour drive from his buildings.
Building upon the steady growth, Millstein was well-situated to navigate through the Great Recession in 2007-2008 and continued building his portfolio and STRO’s brand until the 2010s. At this pivotal juncture, Millstein was able to capitalize on the “Amazon Effect” and envisioned a new focus for the rental and valuation growth of his properties immediately. Millstein embarked on an aggressive buying plan, tripling his portfolio in size, while being hyper-focused on purchasing each building at the “right” basis and possessing certain vital features that provide long-term success in the industrial real estate market.
Investing heavily in acquiring last-mile, industrial in NNJ, at attractive prices during the Great Recession, has enabled MFO to realize significant value thru exponential rent & value inflation. By 2020, Millstein began to turn his focus to the MFO and his next generation. To successfully transition, he built the STRO team like his portfolio – one piece at a time. STRO currently has a team of skilled and experienced personnel specializing in each required discipline to be a full-service provider to MFO’s portfolio.
Today, MFO has a portfolio of over 40 buildings with an aggregate value in excess of $1 billion. STRO exclusively services MFO’s properties and treats each property as though they own it. Millstein’s goal is to double the size of the MFO portfolio by 2025.
The STRO Companies actively pursue new “value-add” and “stabilized” industrial real estate acquisitions in the tri-state region with a focus on Northern New Jersey. STRO has a strong history of delivering optimum results for their investors, partners and tenants.
Managing Director of Acquisitions and Capital Markets
Controller
Senior Director of Leasing and Acquisitions
Director of Property Management
Director of Construction & Development
Director of Marketing & Public Relations
Executive Assistant
Our Story
Our Story
Our Story